Pressure builds to seize Russian assets as war in Ukraine drags on

The seizures would target Russian financial assets currently frozen by the West

The headquarters of the Russian Central Bank
The Central Bank of Russia in Moscow, where most of the assets were held prior to being frozen
(Image credit: Andrey Rudakov / Bloomberg via Getty Images)

Saturday will mark the two-year anniversary of Russia's invasion of Ukraine, and there appears to be no end in sight to the conflict. At the beginning of the war, Western nations froze billions of dollars in Russian assets as a cudgel against Russian President Vladimir Putin. As the war's third year approaches, pressure has been building for these nations to take the next step: the actual seizure of these assets, which would then be transferred to Ukraine to help its war effort.

The Central Bank of Russia has previously confirmed that the value of these frozen assets totals about $300 billion. While the exact makeup of these assets remains ambiguous, the funds reportedly include "$207 billion in euro assets, $67 billion in U.S. dollar assets and $37 billion in British pound assets" which were "mainly invested in foreign securities, bank deposits and nostro correspondent accounts," according to a review of the funds by Reuters

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